Robert David, Jr., Formerly with Morgan Stanley, Suspended 20 Months
FARMINGTON HILLS, MICHIGAN
Are you a former customer of Robert David Jr., formerly of Morgan Stanley in Farmington Hills, Michigan? The investment fraud and securities arbitration law firm of Israels & Neuman is continuing to look into allegations made against Robert David. FINRA (the Financial Industry Regulatory Authority) recently suspended David from the securities industry for 20 months and fined him $15,000.
FINRA was investigating Robert David regarding allegations that he falsified eight customers’ account profiles with Morgan Stanley. In particular, he is accused of falsely increasing the customers’ new worth on account forms in order to circumvent Morgan Stanley’s concentration limits. Robert David was recommending non-investment grade fixed income investments (often referred to as “junk bonds”). This overconcentration occurred between 2015 and 2019.
Robert C. David Jr. had been affiliated with Morgan Stanley from June 2009 to April 2019. He now works as an advisor for Advisory Services Network. He works at a branch office in Farmington Hills, Michigan.
Morgan Stanley has an obligation to sufficiently supervise its representatives, including Robert David. If Morgan Stanley failed in this respect, it could be responsible for investment losses.
Our securities and arbitration law firm represents investors throughout the country, and in Michigan. We have an office in Ann Arbor. Attorney Aaron Israels grew up in Holland, Michigan and still maintains his law license in Michigan.
View BrokerCheck: David, r BrokerCheck 8.28.19
View FINRA AWC: David, r BrokerCheck 8.28.19